PG on downtrend continuance

NYSE:PG   Procter & Gamble Company (The)
On the 2 hr chart, PG was fighting heavy resistance for month. The supply /resistance zone is

on the chart from the Luxalgo indicator. Multiple touches but the zone was not broken.

Price has retraced down beyond the 0.5 Fib level. PG is tracking well with XLP the consumer

staples ETF shown as a thin black line on the chart.

The Luxaglo Echo indicator, a predictive AI tool suggests that price will retest the 0.5 Fib level

and then descend to the support /demand zone with a volume mean of 149.5.

I will take a short position with put contracts with a strike of $ 154 above the Fib 0.5 level

with DTE of 6 = 5/26.

For the stock position, I will set a sell limit of $153 also with a stop loss of $ 154 with the

the target for 2/3 of the position at $ 150 and the remaining third is to watch to see if the

zone brakes. I believe that this is a safe trade in a low-volatility stock set to capture

profit advantaging the prevailing trend running in concert with the subsector ETF.

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